Downtrend
metal sector looks bearishIn weekly, after a strong uptrend, head & shoulder pattern formed then price broke the neckline and pattern confirmed.
Bolinger band is in downtrend and price is pushing the lower BB downwards.
So we can see selling pressure in metal stocks like tatasteel, hindzinc, welcorp, hindalco, vedanta etc.
tata steel looks bearish inshort to medium termIn weekly, important horizontal support 555-542 broken, next support at 415-407 level.
In daily time frame.
please Answer Me is this Trend Line? Explain me pleaseHello Friends I am new In Analysis and Keep Learning And Today im confused In This Chart Can anyone tell me This IS Downtrend Line Or Not?
I Think Bullish divergence Is Right But Not Sure about Trend Line
Please give me your valuable time to explain me
Thank you
Short-Term DowntrendCE OI thrice that of PE OI.
150 Seems like an unbreakable level.
Short and carry till levels of 135.
Stoploss: Above 145.6
Further analysis after target meets.
INDUSIND BANK HEAD AND SHOULDER PATTERN FORMATIONNSE:INDUSINDBK Head & shoulder pattern formed on daily chart. Support levels have been indicated.
Disclaimer: Consult your financial advisor before investing.
amara raja battery looks bearish in medium termIn weekly, price broke horizontal support, then it bounced back to retest the broken support, which is acting as a resistance now.
also price is at descending channel resistance.
also double top pattern confirmed here,
it can slide down to 670, 640, 560 levels.
EURUSD - Down trend - TVP break ScenarioDown Trend is confirmed by ABCD, 'C' being the TVP level for the trend. Which gives the bias to the Down side. However there are two Scenarios that could possibly happen as we see candle '1' has broken the TVP.
Scenario 1 (Green): If candle '1' is broken and given acceptance then we could expect price to move up and break 'A' . Our entry would come on the signal candle of the Pullback.
Scenario 2 (Orange): If candle '1' is broken and given Rejection or Un acceptance price will fall back in tune with the trend. Our entry would be on the signal candle initiating the down leg after the break of candle 1.
AUDUSD - Trend & TVP Analysis'ABCD' is a Downtrend 'E' being first pullback entry.
Level C indicates Trend Violation Point (TVP) breaking this level and getting accepting above it will violate Trend ABCD and gives new bias for the following trade. Unacceptence of TVP break will give the bias in the direction of the Trend ABCD.
However we can continue to Short the 'pullbacks', to trade in the direction of the Trend ABCD untill TVP (C) is broken and accepted.
federal bank looks bearish in short to medium termIn daily, first it broke the horizontal support, then moved up to touch the broken support, now acted as a resistance, and price moving down, after touching the horizontal resistance and trend line resistance.
sl - 113, 1st tgt - 103.
after a long consolidation, BB expansion and BB is moving down.
Note: this is not a fno call, I am sharing my view only.
glenmark looks bearish in medium termin weekly, wave C is going on.
in closure look, there are a lot much left of wave C.
wave B retraced 50% of wave A, so wave C should be extended.
Now counting the fractals of wave C shows that, sub wave going on.
looking at the retracement levels it can plunge below 560 levels. So one should exit in every bounce.
Note: this is for educational purpose.
Nifty Forecasting - Potential Down MoveAfter a Sharp Weekly drop last week nifty might consolidate with 50% upmove and if the upmove is a corrective wave pattern then a potential down move would take Nifty to test the previous breakout levels around 9100 levels in the coming weeks. The current down move can also turn out to be a side ways movement for several weeks which would mean new highs would come again.
Happy Trading!
arvind looks bearish in short termprice reversed from downtrend channel resistance level. it should come down to the channel support level.
sl - 386.5, 1st tgt - 355.5, 2nd tgt - 345.
Note: this is not a short selling advice, as future trading is quite risky.
QuickHeal: Falling Wedge Pattern This is the Chart of Quick Heal on the daily scale, A falling Wedge pattern did appear and the Prices breaks out downward.
Though Falling Wedges patterns are supposed to breakout upwards, but here it breaks out downward.
This pattern forms over a period of approx 6 months.
Break out came with a gap , hence signalling price may go down further.
Support for the stock is at 210-209 levels.
And if i look at harmonic pattern
i could see a probability of Bat pattern ,suggesting a support zone near 211-210 levels
Hence , one should keep an eye on these levels to determine the further price action in this stock
